More consumers intend to make purchases during the upcoming Black Friday-Cyber Monday week, however, a report from Deloitte noted that increasing cost pressures and financial constraints are expected to bring spending down
by a lot this year.
Key takeaways from the extensive Deloitte report are as follows:
- Consumers surveyed expect to spend an average of $622 during Black Friday-Cyber Monday (BFCM) shopping events (Thursday, Nov. 27 – Monday, Dec. 1), down 4% from last year.
- Year-over-year participation in BFCM is up slightly, with 82% of respondents planning to shop during the week.
- Nearly two-thirds of shoppers surveyed (64%) plan to use financing options to stretch their BFCM budgets, which remains in line with last year’s findings.
Although BFCM has evolved into a hybrid event, 72% of Gen Z shoppers plan to shop “in store on Black Friday, compared to 49% of all shoppers”
For seasonal shoppers in search of deals, Thanksgiving week promotions can help make the holidays merry and bright. Deloitte’s “2025 Black Friday-Cyber Monday Survey” examines what retailers can “expect from shoppers between Thanksgiving and Cyber Monday.”
This year, while many plan to cut back amid financial concerns, value is motivating more shoppers “to make the most of the holiday week, both online and in-store.”
The BFCM period continues to spark enthusiasm as shoppers “leverage the promotional period to stretch their holiday budgets.”
This comes as “61% of shoppers surveyed plan to take advantage of as many deals as possible.”
BFCM continues to make the list: 82% of surveyed consumers “plan to shop BFCM this year, up from 79% in 2024.”
The overall participation rate is “higher among Gen Z shoppers (92%).”
After years of growth, spending is expected “to decline 4% to an average of $622.”
Among surveyed shoppers planning to “spend less, the primary drivers are the higher cost of living (69%) and financial constraints (43%).”
Gen Z and millennial shoppers surveyed plan to keep their spending flat while Gen X and Boomers plan to “reduce their spending by 9% and 12% respectively, year-over-year.”
Additionally, 56% of Gen Z respondents say they plan to “cut back on other expenses to spend during BFCM, versus 41% of others.”
Some other key takeaways:
- Lower- and higher-income households signal cutbacks: Those making less than $50K and those making $200K or more plan to spend 12% and 18% less, respectively, year-over-year. Only those making $100K-199K per year say they plan to spend more, an increase of 5% year-over-year.
- Nearly half (47%) of respondents say they have already “experienced higher prices for holiday items this season, and more than one-third (34%) say retailers are discounting less.”
As a result, surveyed shoppers are holding out for deals: 60% have already put items in their carts “to purchase during BFCM, 42% plan to use cashback websites to maximize deals, and 38% say they plan to only purchase items that are at least 50% off.”
To stretch their BFCM budgets, “nearly two-thirds of shoppers surveyed (64%) plan to use credit cards or buy now pay later (BNPL) services.”
Those who use financing methods to “stretch their BFCM budgets are likely to spend 12% more than the average BFCM shopper.”
Credit card use is expected to be “highest among millennials (60%).”
This season, consumers are eager to find the “best deals to wrap up their holiday shopping.”
BFCM has evolved into a hybrid event, as surveyed consumers “plan to shop online (60%) and in store (40%) throughout the five-day period.”
Two-thirds (68%) of respondents plan to shop at “online-only retailers, which continue to be the top destination for BFCM shopping.”
72% of Gen Z shoppers plan to shop in store “on Black Friday, compared to 49% of all shoppers.”
According to respondents, the top reasons to shop “in-store on Black Friday are to take advantage of doorbuster deals (54%), because the best in-store deals are on that day (52%), and because they enjoy shopping with friends and family (43%).”
]The main reasons to shop online on Cyber Monday, according to respondents, are to avoid crowded “retail stores (52%), save time and effort (50%), and to capture the best tech deals of the season (48%).”
BFCM survey respondents plan to purchase “clothing and accessories (76%), electronics and accessories (56%), toys and hobbies (52%), and gift cards (51%).”
Despite being the so-called unofficial kick-off to the shopping season, consumers surveyed are mainly using October events “to stock up on necessities that were on sale (64%) compared to those who primarily purchased gifts over essentials (26%).”
Deloitte’s “2025 Black Friday-Cyber Monday Survey” is based on a survey of 1,200 consumers fielded “between Oct. 15 and Oct. 23.”